Best money market accounts
A money market account is a bank deposit account that usually adds checks or a debit card to a savings-style rate. The three we picked showed 3.20% to 3.90% APY on Nov 10, 2026, against the FDIC’s 0.63% national average for money market accounts.
Disclosure: links on this page currently go straight to each provider’s own site, and we don’t earn a commission from them. If we join a provider’s affiliate program later, that will never change which products we include or how we order them. How we make money.
How this page was made: it’s built from each provider’s own terms, rate and fee pages and from regulator sources, all listed at the bottom. We haven’t opened these accounts or products to test them, and we don’t give scores. Every rate shows the day we checked it. Our methodology.
Quick answer
Short answer: on Nov 10, 2026, Quontic’s money market account showed 3.90% APY with a $100 minimum, debit card and checks; Sallie Mae showed 3.60% APY with no minimum and check-writing; Ally showed 3.20% APY with a debit card, checks and free Allpoint and MoneyPass ATMs. All three are FDIC-insured; rates are variable.
Last updated Rates checked Nov 10, 2026
Key facts at a glance
| Pick | Product | Best for | Key terms |
|---|---|---|---|
| Highest APY we found | Quontic Money Market Account | The highest rate here, if you can open with $100 | 3.90% APY (variable; all balance tiers) as of Nov 10, 2026; $100 minimum to open; no monthly fees |
| No minimum, with check-writing | Sallie Mae Money Market Account | People who want check-writing with no minimum | 3.60% APY (variable) as of Nov 10, 2026; $0 minimum; no monthly maintenance fees |
| Best ATM access | Ally Bank Money Market Account | Getting cash out at ATMs without fees | 3.20% APY (variable; all balance tiers) as of Nov 10, 2026; no minimum; no monthly maintenance fees |
We read each bank’s money market page on Nov 10, 2026 and recorded the APY it showed, the minimum to open, monthly fees and how you can get at the money. The FDIC’s[6][7] National Rates and Rate Caps put the national average for money market accounts at 0.63% (as of Oct 19, 2026). This page is research-based: we haven’t opened these accounts, and we don’t give scores.
Don’t confuse a money market account with a money market fund. The accounts on this page are bank deposits, insured by the FDIC up to the limit. A money market fund is a type of mutual fund that invests in short-term debt, cash and cash equivalents; Investor.gov[8] says mutual funds aren’t guaranteed or insured by the FDIC, and the FDIC lists mutual funds among the products it doesn’t cover.
Our picks
How do they compare?
| Account | Insured bank | APY | Minimum to open | Access |
|---|---|---|---|---|
| Quontic Money Market | Quontic Bank (FDIC) | 3.90% APY (variable; all balance tiers) as of Nov 10, 2026 | $100 | Debit card, checks |
| Sallie Mae Money Market | Sallie Mae Bank (FDIC) | 3.60% APY (variable) as of Nov 10, 2026 | $0 | Checks, transfers |
| Ally Bank Money Market | Ally Bank (FDIC) | 3.20% APY (variable; all balance tiers) as of Nov 10, 2026 | $0 | Debit card, checks, ATMs |
| CIT Bank Money Market | First Citizens Bank (CIT Bank division) (FDIC) | 1.55% APY (variable) as of Nov 10, 2026 | $100 | Transfers, mobile deposit |
The picks in detail
1. Quontic Money Market Account
Best for: The highest rate here, if you can open with $100Quontic’s page showed 3.90% APY on Nov 10, 2026. Its disclaimer says the account is tiered but that 3.90% applies to every tier ($0.01–$4,999.99, $5,000–$149,999.99 and over $149,999.99), and that the information is “as of September 1, 2026”, so confirm the current rate before you move money. The minimum opening deposit is $100, there are no monthly fees, and you get a free debit card and check-writing. Quontic’s FAQ describes the money market account as a checking account with those features. Quontic Bank is a Member FDIC[6][7].
Key terms: 3.90% APY (variable; all balance tiers) as of Nov 10, 2026; $100 minimum to open; no monthly fees Quontic terms
Pros
- Highest APY of the accounts we checked on Nov 10, 2026
- Same rate on every balance tier
- Debit card and checks included
Cons
- $100 minimum opening deposit
- Rate disclaimer dated Sept 1, 2026; the rate may have changed
- Interest accrued in a cycle can be forfeited if you close the account before it’s credited
2. Sallie Mae Money Market Account
Best for: People who want check-writing with no minimumSallie Mae showed 3.60% APY, variable and “accurate as of 11/10/2026.” Its FAQ says there is no minimum deposit to open, no minimum balance and no monthly maintenance fees. You can make free transfers and write checks from the account; interest compounds daily and is paid monthly. Deposit products are offered through Sallie Mae Bank, Member FDIC[6][7].
Key terms: 3.60% APY (variable) as of Nov 10, 2026; $0 minimum; no monthly maintenance fees Sallie Mae terms
Pros
- No minimum deposit, no minimum balance and no monthly fee
- Check-writing included
Cons
- No debit card mentioned on the page we read
- Rate is variable and applies to personal accounts only
3. Ally Bank Money Market Account
Best for: Getting cash out at ATMs without feesAlly showed 3.20% APY on all balance tiers, accurate as of 11/10/2026, with no monthly maintenance fees or minimum balance. You get a debit card and checks, unlimited free withdrawals at 75,000+ Allpoint and MoneyPass ATMs, and up to $10 per statement cycle reimbursed for other ATMs’ fees. Ally limits other withdrawals (transfers, checks, point-of-sale) to 10 per statement cycle. Ally Bank is a Member FDIC[6][7].
Key terms: 3.20% APY (variable; all balance tiers) as of Nov 10, 2026; no minimum; no monthly maintenance fees Ally terms
Pros
- Debit card, checks and broad free ATM access
- No minimums or monthly fees
Cons
- Lowest APY of the three picks on Nov 10, 2026
- 10 limited withdrawals per statement cycle
Also considered
CIT Bank Money Market showed 1.55% APY (footnote “accurate as of July 1, 2026”) with a $100 minimum and no monthly service fees. That’s well under the picks above and under CIT’s own Platinum Savings top tier, so we didn’t pick it. Synchrony Bank lists a money market account, but its page didn’t show a rate when we checked, so we left it out.
How we chose these accounts
We included money market deposit accounts that are held at an FDIC-insured bank named on the page, charge no monthly fee, can be opened online, and showed an APY above the FDIC’s[6][7] 0.63% national average for money market accounts on the day we checked. We put the rate and the way you access money side by side, because that’s the real trade-off between these accounts. We earn nothing from any link on this page.
Money market account or high-yield savings?
On Nov 10, 2026 the rates overlapped: these money market accounts showed 3.20%–3.90% APY and the high-yield savings accounts we checked showed 3.20%–4.00%. The difference is access. Money market accounts often add checks or a debit card; most online savings accounts don’t. Both are FDIC-insured deposits up to $250,000 per depositor, per bank, per ownership category.
Who should skip this
- Anyone who needs a fixed rate. Every rate here is variable. A CD locks the APY for its term.
- Balances above $250,000 at one bank in one ownership category. The excess isn’t FDIC-insured.
- People who really want a money market fund. That’s an investment at a brokerage, not a bank account, and it isn’t FDIC-insured.
- Everyday spending. Ally caps most withdrawals at 10 per statement cycle; use a checking account for bills.
Frequently asked questions
Which money market account had the highest rate on Nov 10, 2026?
Is a money market account FDIC-insured?
What’s the national average money market rate?
Can I write checks from a money market account?
Is money market interest taxable?
Sources
Every source below was opened and read for this page (rates last checked Nov 10, 2026). Providers’ own pages are labeled with the provider’s name; regulator pages are labeled with the agency. Rates and terms change often, so confirm on the provider’s site before you apply.
- Quontic Bank: Money Market Account (quontic.com, checked Nov 10, 2026)
- Sallie Mae: Money Market Account (salliemae.com, checked Nov 10, 2026)
- Ally Bank: Money Market Account (ally.com, checked Nov 10, 2026)
- CIT Bank: Money Market Account (cit.com, checked Nov 10, 2026)
- Synchrony Bank: Money Market (synchronybank.com, checked Nov 10, 2026)
- FDIC: National Rates and Rate Caps (October 2026) (fdic.gov, checked Nov 10, 2026)
- FDIC: Understanding Deposit Insurance (fdic.gov, checked Nov 10, 2026)
- Investor.gov (SEC): Mutual Funds (investor.gov, checked Nov 10, 2026)
- IRS: Topic no. 403, Interest received (irs.gov, checked Nov 10, 2026)
Related
Best high-yield savings accounts
Every account here is at an FDIC-insured bank, charges no monthly maintenance fee and paid 3.20% APY or more on the bank’s own page on Nov 10, 2026, versus the FDIC’s 0.38% national average for savings. The differences are tiers, minimums and how you move money.
guideHigh-yield savings vs money market account
Both are FDIC-insured bank deposits with variable APYs. A money market account usually adds checks or a debit card; a high-yield savings account often pays the same or more. At the three banks we checked on Nov 10, 2026, savings paid the same or more every time.
guideFDIC insurance limits, explained
The FDIC limit is $250,000 per depositor, per FDIC-insured bank, for each ownership category. Using more than one category or more than one bank can legally cover far more. Investments such as stocks, funds and crypto aren’t covered at all.
best ofBest free checking accounts
All four accounts here have no monthly maintenance fee, no minimum balance and no overdraft fees, per each bank’s page on Nov 10, 2026. They differ on ATM access, whether you can deposit cash, interest, and what optional services still cost.